News

British Pound Q3 Forecast: Sterling Fundamentals – Volatility Set to Rise as Brexit D-Day Nears

Products You May Like

Sterling (GBP) is likely to become more volatile as the clock ticks down to the latest Brexit deadline – October 31st – with both sides becoming increasingly weary and frustrated at the continued ‘cankicking’ exercise. Against this backdrop, Sterling is likely to become more volatile, a boon for traders who have had to sit back and watch most Sterling pairs trade in relatively restricted ranges over the past three months.

GBP

Chart prepared by Nick Cawley

Sterling Q3 Technical Analysis: GBPUSD: Holding Flash Crash Trendline Support

Losses persisted for GBPUSD after failing to consolidate above the 1.3000 handle. Although, at the back end of Q2, the pair had managed to find stability above 1.2500, which also coincided with the rising trendline stemming from the October 2016 flash crash. While the pair may have found a floor at 1.2500 in the near-term, momentum indicators on the longer-term timeframes (weekly & monthly) remain tilted towards a bearish bias, thus a retest of 1.2500 cannot be ruled out, particularly if a closing break below the key trendline was made, which would expose the 1.2426 January low.

GBP

Chart prepared by Justin McQueen

To read the full British Pound Forecast, download the free guide from the DailyFX Trading Guides page

Products You May Like

Articles You May Like

Financial Times reports that China blocks use of Intel & AMD chips in government computers
Australian Dollar edges lower amid a steady US Dollar, awaits US PCE
Gold has second thoughts after testing $2200
Can Ripple borrow a page from meme coins and trigger 50% rally?
Solana Price Prediction: SOL likely to fall another 20% before buyers step in

Leave a Reply

Your email address will not be published. Required fields are marked *